Updated Oct 29, 2024
Venterra Realty Secures $50M Loan For Multifamily Properties In San Antonio & League City
5455 Rowley Road, San Antonio, TX, USA
$50,000,000
$45,372/SF
Building Size
1,102 SF
Asset Type
MultiFamily
Closing
Jan 14, 2021
About this deal
AI
The Fairways at South Shore in San Antonio and The Palazzo in League City have secured a combined $50 million in loans. Venterra Realty, the landlord of both properties, obtained a $40 million fixed-rate loan from Freddie Mac for Fairways at South Shore. Additionally, they secured a separate $10 million fixed-rate loan from Fannie Mae for The Palazzo.
Summary of Transaction Details:
- Property Type: Multifamily
- Transaction Amount: $50,000,000
- Market: San Antonio & League City
- Address: 5455 Rowley Road & 3045 Marina Bay Drive
- Landlord: Venterra Realty
- Lender: Colin Cross - lument''>Lument
Colin Cross from Lument served as the lender for both loans. This financing arrangement strengthens the position of Venterra Realty as they continue to invest in and manage properties in the San Antonio and League City markets.
On the Map
$50,000,000
$45,372/SF
MultiFamily
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Players
San Antonio MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93